According to the Commerce Department, the US economy expanded at a slower annualized rate of 2.3%, from 2.9% in the previous quarter. Although that beat polled market’s expectation of a 2.0% growth rate, it is the lowest in a year. Personal consumption (the U.S. economy’s key driver) grew at its slowest pace in five years, amid reduced spending on cars, clothing, and footwear, and stalled growth in residential investment. Meanwhile, impact of trade on the US economy turned positive, contributing 0.2%, against -1.16% in the previous quarter.
The local bourse rebounded as the All Share Index (ASI) rose by 5bps to settle at 40,777.67 on Thursday while YTD return remained unchanged at 6.6%. In addition, investors gained N49.5bn in value as market capitalization advanced to N14.8tn. Today’s bullish performance was largely due to buying interest in NIGERIAN BREWERIES (+1.8%), UNILEVER (+3.6%) and OANDO (+5.2%). Similarly, activity level strengthened as volume and value traded increased 8.0% and 36.0% to 378.2m units and N6.3bn respectively.
The Minister of Finance, Kemi Adeosun, has appointed Ms Mary Uduk, as the new Director -General, the Securities and Exchange Commission (SEC) following the redeployment of Dr Abdul Zubair, who had held forte since December last year.
Mr Oluyinka Akintunde, Special Adviser, Media & Communications to the Minister of Finance made the changes known in a statement on Friday.
The 2-day positive run in the local bourse came to a halt on Thursday as the All Share Index (ASI) shed 10bps to close at 40,813.69 points while YTD return moderated to 6.7%. Resultantly, investors lost N13.6bn in value as market capitalization fell to N14.7tn. The bearish performance today was largely on the back of losses in market bellwethers - DANGCEM (-0.8%), UNILEVER (-3.5%) and ZENITH (-1.0%). Activity level softened as volume and value traded fell 44.1% and 41.4% to 205.3m units and N3.1bn respectively.
The Nigerian Stock Exchange (NSE) has clarified and confirmed the status of trading in the shares of Oando Plc which are currently on full suspension.
By a letter dated 9 April 2018 from the Securities and Exchange Commission, the NSE was directed to lift the technical suspension placed on the trading of Oando’s shares.
The local bourse extended gains to the 2nd session as the NSE All Share Index (ASI) rose 0.9% to close at 40,846.24 points on Wednesday. As a result, market capitalisation stood at N14.8tn as investors gained N125.4bn in value while YTD return strengthened to 6.8%. Price appreciation in DANGCEM (+2.0%) as well as bargain hunting in INTBREW (+4.9%) and FBNH (+1.7%) drove the bullish performance recorded today. Despite improved market performance, activity level remained mixed as volume traded grew 5.4% to 367.2m units while value traded fell 26.6% to N5.3bn.
The domestic bourse rebounded in today’s session following buying interest in DANGCEM as the NSE All Share Index (ASI) inched 17bps higher to close at 40,499.04 points on Tuesday. Ex-DANGCEM, the ASI would have closed 25bps lower. Consequently, investors gained N25.2bn in value as market capitalization rose to N14.6tn while YTD return improved to 5.9%. Today’s bullish performance is mainly attributable to buying interest in DANGCEM (+1.2%) as well as INTBREW (+4.8%) and ETI (+2.9%).
The local bourse extended its bearish performance from last week into the second consecutive trading session as the NSE All Share Index (ASI) shed 1.0% to close at 40,429.18 points. As a result, Investors lost N149.7bn in value as market capitalization weakened to N14.6tn while YTD return moderated to 5.7%. Today’s negative performance can be attributed to sell-offs among large-cap stocks led by DANGCEM (-1.1%), UNILEVER (-8.0%) and WAPCO (-7.2%). In line with market performance, activity level declined as volume and value traded trended lower, down 42.8% and 15.4% respectively.
The equities market rebounded at the close of today’s session as the All Share Index (ASI) inched 31bps higher to close at 40,875.69 points while YTD return rose to 6.9%. Consequent on this, investors gained N45.5bn in value as market capitalization grew to N14.8tn. The bullish performance can be attributed to gains in DANGCEM (+1.6%) as well as bargain hunting in ETI (+4.0%) and UBA (+1.3%). In line with improved market performance, activity level improved as volume and value traded increased by 23.5% and 13.3% respectively to 495.6m units and N7.7bn.